Fund of the week: Filling the shoes of a star manager

Star fund manager Neil Woodford’s departure from Invesco Perpetual has hit his funds hard. His Income and High Income funds saw outflows of £1.4bn in the month to 11 December alone.

This “mega-sized” £1.1bn investment trust has also suffered over the uncertainty of who will fill Woodford’s shoes, says Kate Morley in the Investors Chronicle.

The good news is that the trust – which has, unusually for an investment trust, tended to trade at a premium to net asset value (ie, for more than its underlying portfolio is worth) – is now trading at a small discount [...]

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